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Sec.40A

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02 August 2010 Donation to charitable trust made in cash amounting to Rs.40000. Is it allowed as deuction u/h PGBP? What is the provision?
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
02 August 2010 First of all it would be added back in the Income of Profits and Gains of Business or Profession if debited to Profit and Loss account.


A deduction would be allowable only if the charitable trust is registered with the Commissioner of Income - Tax and approval has been granted (a certificate is issued for the purpose of section 80G).


A 50% of donation is eligible for deduction subject to the 10% of gross total income.
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Ratan Sharma

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Ratan Sharma (Expert)
02 August 2010 Agree with expert. Donation is generally treated as personal expenditure hence not deductible under PGBP.
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